Walmart reaches $1 trillion market cap as AI strategy pays off
Walmart has become the first retailer whose market capitalization has reached $1 trillion, joining the club of the world’s most valuable companies, which is dominated mainly by technology giants such as Nvidia, Alphabet, Apple, Microsoft and others.
On Tuesday, Walmart shares rose by 3% to $128, pushing the company’s market capitalization to $1 trillion for the first time in its history.
This milestone came two weeks after Walmart replaced British pharmaceutical company AstraZeneca in the technology-focused Nasdaq-100 index, which includes the most valuable non-financial companies.
Over the past year, WMT shares have gained 26% as the company has doubled down on artificial intelligence, investing billions of dollars in automating its supply chain to stock stores with fresher products and reduce delivery times, as consumers increasingly favor the convenience of online grocery shopping.
In addition, the Bentonville, Arkansas–based retailer has benefited from wealthier consumers using fast delivery services to purchase non-essential goods such as clothing and furniture.
“Over the past five years, the company has undergone a massive digital business transformation,” Eric Clark, chief investment officer at Accuvest Global Advisors, told Reuters, adding that the retailer has evolved from a simple local seller into a company that truly embraces technology.
A recipe for success, powered by AI
Brian Mulberry, senior client portfolio manager at Zacks Investment Management, also believes that Walmart is becoming a “new AI giant” due to how effectively the company integrates technology into its operations — from lowering product costs to capturing a larger share of consumer spending.
Over the past decade, Walmart shares have risen by 468%, compared with a 264% increase in the S&P 500 index.
This outperformance has allowed Walmart to join the “trillion-dollar club” alongside Nvidia ($4.5 trillion), Alphabet ($4.1 trillion), Apple ($3.9 trillion), Microsoft ($3.1 trillion), Amazon ($2.6 trillion), Meta ($1.8 trillion), Broadcom and Tesla (both at around $1.6 trillion), and Berkshire Hathaway ($1 trillion).
As we wrote, Walmart consolidates near $103 after climbing on robust omnichannel gains — price forecast steady
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